Top Energy Stocks
Energy stocks were narrowly lower Monday with the NYSE Energy
Sector Index sinking about 0.1% while shares of energy companies in
the S&P 500 were down less than 0.1% as a group. Crude oil for
August delivery was down 56 cents at $105.18 per barrel while
August natural gas was up 4 cents to $4.44 per 1 million BTU.
In company news, shares of Miller Energy (
) rose Monday after analysts at SunTrust Robinson Humphrey today
raised their investment rating for the exploration and production
company to Buy from Neutral, also increasing its price target by $2
to $10 a share.
MILL shares were ahead more than 13% at $6.21 apiece in mid-day
trade, easing from its session high of $6.34 a share. The stock has
a 52-week range of $3.85 to $8.97 a share, rising over 53% over the
past 12 months.
In other sector news,
(+) LINE, (+1.8%) Acquires U.S. natural-gas assets from Devon
) for $2.3 bln. The acquired assets currently are producing around
275 mln cubic feet per day. Total proved reserves are estimated
between 1,300 bln to 1,500 bln cubic feet.
(-) ADGE, (-16.9%) Files amended prospectus for a $20 million
offering of stock. Proceeds will be used for working capital,
including installation of current and new energy cogeneration
systems and chillers.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.